Jefferies downgraded Metcash (MCSHF) to Hold from Buy with a price target of A$3.40, down from A$4.10. While the firm continues to believe in the long term prospects for Hardware & Tools, conditions are still deteriorating and the earnings trough could deepen, the analyst tells investors following the company’s “disappointing update.”
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Read More on MCSHF:
- Metcash Limited Sees Strong Sales Growth in FY25
- Metcash downgraded to Sell from Neutral at Goldman Sachs
- Metcash Shareholder Voting Power Shifts
- Commonwealth Bank Adjusts Stake in Metcash
- Metcash Substantial Shareholder Reduces Stake
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